The present invention relates generally to commercial motor vehicle auctions in which motor vehicle dealers purchase at auction pre-owned motor vehicles which have been assembled at one or more remote locations by a motor vehicle auction company. More particularly, this invention pertains to information systems and networks which allow on-line participation in the motor vehicle auction process and which provide auction participants access to auction-related data.
Motor vehicle auctions have become a popular way for motor vehicle dealers to add to their inventory of used vehicles which are sold at retail at their locations. Accordingly, several large motor vehicle auction companies sell pre-owned vehicles. The pre-owned vehicles are assembled on one or more motor vehicle auction facilities. These pre-owned vehicles are consigned by motor vehicle manufacturers, rental car companies, commercial fleet companies, financial institutions, and motor vehicle dealers. In the past, full and effective participation in a commercial motor vehicle auction has meant that a representative of the motor vehicle dealer must personally visit the motor vehicle auction site to participate in the motor vehicle auction. This, of course, adds to the expense of purchasing vehicles in the motor vehicle auction and slows the entire process down. Accordingly, some in the motor vehicle auction industry have attempted to stream-line the process by providing a way in which vehicle dealers can participate in the motor vehicle auction from remote locations, using some form of electronic on-line access to the motor vehicle auction itself.
One attempt at implementing an on-line motor vehicle auction system is described in U.S. Pat. No. 4,789,928, which was issued to Flex Japan, Inc. and Aucnet, Inc. on Dec. 6, 1988. In the system of the '928 patent, a host computer is connected to a number of "dealer terminals" through a hierarchy of "front" computers. Interactive bidding occurs over a conventional phone network so that the intermediate computers can transmit motor vehicle auction data between the motor vehicle dealer terminals and the host computer. Prior to the motor vehicle auction, laser discs storing information about the specific vehicles to be auctioned are physically delivered to the various dealer terminal locations. The dealer terminals then go on-line with the host computer to log in as an authorized user/bidder. In response to host computer commands, the dealer terminals are prompted to retrieve the data about the vehicle being auctioned. Then the bidding begins.
The Aucnet system does not address all of the needs of motor vehicle auction participants. For example, it lacks the capacity to electronically supply motor vehicle auction related information to the auction participants, such as a motor vehicle auction sale calendar, vehicle stock locator, auction market reports, industry news, and the like. Also, the architecture of the Aucnet system is hardware intensive, making it more complex to set up, operate and maintain. Finally, the prior art systems do not allow a motor vehicle dealer to import their own vehicle inventories into the auction system so that they can be auctioned to other participants.
What is needed, then, is an electronic motor vehicle auction system which not only allows a remote user to participate on-line in the motor vehicle auction using a personal computer, but also provides such remote users electronic access to comprehensive information about the motor vehicle auction and vehicles so that the motor vehicle auction process is facilitated. Such a system is not available in the prior art.